Short Interest in The Vita Coco Company, Inc. (NASDAQ:COCO) Grows By 10.1%

The Vita Coco Company, Inc. (NASDAQ:COCOGet Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 5,210,000 shares, an increase of 10.1% from the February 29th total of 4,730,000 shares. Currently, 14.8% of the shares of the company are short sold. Based on an average daily volume of 731,100 shares, the days-to-cover ratio is currently 7.1 days.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COCO. Piper Sandler increased their target price on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. William Blair downgraded shares of Vita Coco from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. TheStreet downgraded shares of Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. The Goldman Sachs Group decreased their price target on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Finally, Stephens raised shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Vita Coco has an average rating of “Moderate Buy” and a consensus price target of $29.71.

View Our Latest Stock Report on Vita Coco

Vita Coco Trading Up 1.3 %

NASDAQ COCO traded up $0.32 during trading on Tuesday, reaching $24.27. 1,231,854 shares of the company’s stock were exchanged, compared to its average volume of 758,802. The firm has a market capitalization of $1.38 billion, a PE ratio of 30.34, a P/E/G ratio of 1.95 and a beta of 0.16. Vita Coco has a fifty-two week low of $19.23 and a fifty-two week high of $33.29. The company’s fifty day simple moving average is $22.89 and its 200-day simple moving average is $25.28.

Vita Coco (NASDAQ:COCOGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $106.10 million for the quarter, compared to the consensus estimate of $99.63 million. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. Equities analysts forecast that Vita Coco will post 0.92 EPS for the current fiscal year.

Insider Activity at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total value of $480,141.98. Following the transaction, the chairman now directly owns 656,483 shares of the company’s stock, valued at approximately $16,418,639.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Vita Coco news, Director Ira Liran sold 13,998 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the transaction, the director now directly owns 645,942 shares in the company, valued at approximately $16,161,468.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Michael Kirban sold 19,198 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $25.01, for a total transaction of $480,141.98. Following the transaction, the chairman now owns 656,483 shares in the company, valued at $16,418,639.83. The disclosure for this sale can be found here. Insiders sold a total of 38,538 shares of company stock worth $964,161 in the last 90 days. 51.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently bought and sold shares of COCO. Headinvest LLC bought a new stake in Vita Coco in the third quarter valued at about $29,000. Tower Research Capital LLC TRC lifted its position in shares of Vita Coco by 66.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,404 shares of the company’s stock valued at $38,000 after buying an additional 560 shares during the last quarter. Pinebridge Investments L.P. bought a new position in shares of Vita Coco during the second quarter worth approximately $44,000. Robeco Institutional Asset Management B.V. bought a new position in Vita Coco during the 4th quarter worth $60,000. Finally, Royal Bank of Canada increased its stake in Vita Coco by 37.2% during the 2nd quarter. Royal Bank of Canada now owns 2,609 shares of the company’s stock worth $70,000 after acquiring an additional 707 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Company Profile

(Get Free Report)

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, and the Asia Pacific. The company offers coconut oil and coconut milk; juice, hydration mix, and milk; sparkling water; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.

See Also

Receive News & Ratings for Vita Coco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vita Coco and related companies with MarketBeat.com's FREE daily email newsletter.